CORE INSURANCE, INSURANCE TECHNOLOGY
Exavalu and Topa Insurance Company | February 06, 2023
Topa, an insurance company, has recently announced its implementation of Exavalu's digital engagement platform for agents to enhance the productivity and experience of insurance agents and increase its business growth. In addition, it will provide a user-friendly interface with quick quote generation, eligibility checks for multiple lined businesses, and first notice of loss (FNOL) features.
With a history of about 30 years, Topa Insurance Company specializes in casual and commercial property insurance, serving quality products to managing general agents (MGAs), general agents, and wholesale brokers.
Exavalu, a leading digital and advisory insurance solutions provider, integrates with different insurance platforms, rating engines, and third-party services, supporting insurance agents and policyholders. With its build on Amazon Web Services (AWS), it integrates with Topa's Guidewire InsuranceNow system through MuleSoft AnyPoint's application programming interface (API) gateway, offering necessary tools to enhance productivity.
Global Insurance Solutions and Delivery Leader at Exavalu, Goutam Kanjilal, said, "Exavalu's Digital Engagement Platform offers insurers a modern and intuitive portal to engage with their agents and customers through flexible and feature-rich agent and customer portals. We are delighted to partner with Topa to provide exceptional digital experiences for its agents."
(Source – Cision PR Newswire)
About Exavalu
Exavalu, a digital transformation advisory and solutions provider in the insurance industry, partners with top insurance companies, InsurTechs, TPAs, and MGAs worldwide by combining technology with insurance knowledge to automate the business of insurers' clients. Headquartered in Newport Beach, California, it has been building long-term relationships with clients and companies through innovation since 2018. It specializes in Microsoft Dynamics, Oracle, SAP, ERP, GDPR, CCPA, business and technology strategy, technological solutions, innovation, strategic advisory, data privacy, GRC and digital GRC, healthcare and life sciences, banking and financing services, and insurance.
About Topa Insurance Company
Topa Insurance Company is a wholly owned subsidiary of Topa Insurance Group and a member of Anderson Holdings, offering insurance products across the wholesale market and enhancing agility, operations, and profit for continuous growth. Headquartered in Calabasas, California, it specializes in property, specialty and casualty insurance with writing commercial, personal lines, and programs since 1984. In addition, it helps businesses to grow and distribute commercial and personal insurance products through its network of insurance agents and brokers.
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CORE INSURANCE, RISK MANAGEMENT
Idelic | January 19, 2023
Idelic Inc. recently announced the launch of Idelic Insurance Agency, LLC, a technology-driven managing general agent (MGA) aimed at providing commercial fleets with tailored insurance coverage. The insurance pricing will reflect the fleets’ risk improvement by using the Idelic Program, a comprehensive approach to improving driver safety and reducing crashes.
Idelic Insurance Agency also aims to provide a modern approach to improving insurance outcomes by allowing fleets to use technology and processes to reduce losses. The insurance agency will price renewals based on the fleets’ successful adoption and results.
The Idelic Program consists of two major components: Safety Suite® and Driver Safety Playbook. Safety Suite® is the best driver performance management platform in the trucking industry. It collects driver risk data and uses machine learning algorithms to identify high-risk drivers. Meanwhile, the Driver Safety Playbook is an excellent guide to engaging drivers, providing coaching and step-by-step professional development plans made by working with insurers and trucking's safest fleets.
On average, fleets utilizing Idelic Program can witness a 20% decrease in preventable crashes in the first year.
"Commercial auto fleet insurance is inherently complex with a multitude of nuances from fleet to fleet. The process of evaluating risks has traditionally relied on underwriter experience and judgment, but insurers are increasingly looking for a more data-driven way to evaluate risks. Idelic Insurance Agency will do just that," stated Michael Gramm, Senior Vice President of Insurance at Idelic Insurance Agency. "By working closely with fleets that choose to use the Idelic Program, we can better leverage critical driver behavior data to quote policies that reflect their reduced crash risk," he added.
(Source – Business Wire)
The Idelic Program and Idelic Insurance Agency are timely solutions to help fleets combat rising insurance rates and reduce losses significantly. However, fleet insurance costs and availability are once again among the Top 10 motor carrier executive concerns listed by American Transportation Research Institute (ATRI).
About Idelic Inc.
Pittsburgh-based Idelic is a software provider dedicated to delivering the best insurance outcomes for fleets. The Idelic Program combines process and technology in a tool designed for and proven successful among fleets and insurers alike. Additionally, the program uses predictive analytics to identify risky drivers and professional development plans to help change behavior patterns and provide insurers with evidence of long-term improvements in crash reduction to negotiate lower rates. The company's experienced technical and industry experts understand the trucking and insurance industries' needs and provide tailored solutions to clients' real problems.
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CORE INSURANCE,RISK MANAGEMENT
Inszone Insurance Services | January 09, 2023
Inszone Insurance Services, a national provider of personal and commercial lines insurance, acquired Carmichael Associates, Inc., a long-time employee benefits insurance company.
Inszone will gain from the acquisition of Carmichael because it is well-known among the locally-owned businesses in the Los Angeles area. In addition, the company is popular for its eased and simplified services in managing human resources and determining appropriate insurance plans for the employees and workers of the local business owners.
Carmichael's customers will continue to receive the same level of service under the Inszone Insurance Services brand, located in Lakewood (California). The company offers customers a genuine one-stop buying experience designed to simplify and streamline a complex process.
Employee benefits remain a crucial area of growth for Inszone Insurance Services. As a rapidly growing and expanding insurance service provider in all 50 states of the United States, the company looks forward to the work that will help it achieve its goals and acquire more benefits-focused agencies in the future.
"Carmichael's team of professionals have been exceptional in the field, and we are thrilled to incorporate their innovation into the Inszone's framework,"
- Chris Walters, CEO of Inszone Insurance Services
(Source:BusinessWire)
About Inszone Insurance Services
Founded in 2022, Inszone Insurance Services is a full-service insurance brokerage firm that offers a wide range of property, casualty insurance, and employee benefits solutions. With an experienced management team focused on the goals, it grows organically through acquisitions. With 35 locations in California, Arizona, Utah, Nevada, Colorado, Illinois, Texas, and Missouri, the company is looking to expand further across the country. It is focused on helping each customer understand and make sense of their insurance needs, the coverage they need, and the policy they are buying.
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